Forestry Index https://forestryindex.net These are the search results for the query, showing results 1 to 12. Forest Landowners - Guide to the Federal Income Tax https://forestryindex.net/links/forest-landowners-guide-to-the-federal-income-tax This publication is the latest in a series of income tax handbooks for nonindustrial private forest owners that extends back over 45 years. It represents a major revision of Agriculture Handbook No. 708, Forest Owners? Guide to the Federal Income Tax. It updates that publication to include tax legislation passed after 1994 and administrative changes promulgated through 2000. No publisher mhowell 2020-06-12T07:32:57Z Link Setting up the Books: A Forest Owner's Guide to Capital Accounts https://forestryindex.net/links/setting-up-the-books-a-forest-owners-guide-to-capital-accounts ...and Recordkeeping for Federal Income Tax Purposes No publisher mhowell 2021-02-13T12:17:31Z Link Timber Basis for Federal Income Tax https://forestryindex.net/links/timber-basis-for-federal-income-tax This article reviews considerations for recovering capital expenditures and briefly touches on smoothing income flows to minimize passive losses. No publisher mhowell 2021-05-29T11:52:32Z Link Taxation of Capital Gains https://forestryindex.net/links/taxation-of-capital-gains The Taxpayer Relief Act of 1997 made many changes in the taxation of long-term capital gains for individuals. Individuals holding timber and timberland must be aware of the changes to minimize the income tax impact on sales of these assets. No publisher mhowell 2020-07-10T17:09:45Z Link Tax Tips for Forest Landowners for the 1997 Tax Year https://forestryindex.net/links/tax-tips-for-forest-landowners-for-the-1997-tax-year The long term capital gains rate has been reduced significantly--if you sold your timber at the right time and you met the correct holding period requirements. These new rules, plus the information that follows, are some things to keep in mind. No publisher mhowell 2021-05-29T11:48:58Z Link Income Taxes and Private Forest Landowners https://forestryindex.net/links/income-taxes-and-private-forest-landowners This paper focuses on income tax concerns, although landowner decisions may also be influenced by property and sales taxes. It is divided into three major sections that address recordkeeping, land acquisition and timber sales, and tax requirements for other forest management activities. No publisher mhowell 2021-05-29T11:46:13Z Link Hurricane Shade Tree Destruction May Be Tax Deductible https://forestryindex.net/links/hurricane-shade-tree-destruction-may-be-tax-deductible Taxpayers may be able to deduct losses in property value from Hurricane Katrina. This includes damage to shade``trees along with damage to your home and automobiles that will not be reimbursed through insurance payments``(Internal Revenue Code 165). No publisher mhowell 2020-07-29T08:11:26Z Link Handling Stewardship Incentive Program Cost-share Payments for Income Tax https://forestryindex.net/links/handling-stewardship-incentive-program-cost-share-payments-for-income-tax This paper addresses a selection of questions that landowners frequently asked about the income tax aspects of SIP cost-share payments. No publisher mhowell 2020-07-28T13:08:36Z Link Frequently Asked Questions About Timber Casualty Losses https://forestryindex.net/links/frequently-asked-questions-about-timber-casualty-losses Generally this is a loss caused by a sudden, unexpected, and unusual event from natural or other external forces. It``is not a gradual or progressive loss, such as death caused by periods of low rainfall or natural competition. Examples``are losses from hurricanes, tornados, floods, plane crashes, wildfires, hail, ice storms, theft, etc. No publisher mhowell 2020-07-28T11:42:26Z Link Forestry Income Tax Series: Handling Reforestation Expenses https://forestryindex.net/links/forestry-income-tax-series-handling-reforestation-expenses Forest landowners who spend money on reforestation can take advantage of two federal income tax incentives. No publisher mhowell 2020-07-29T04:12:36Z Link Forest Taxation https://forestryindex.net/links/forest-taxation Assuring that Non-Industrial Forest Landowners Have Access to the Best Available Information on Forest Related Tax Law. No publisher mhowell 2020-07-28T12:21:48Z Link Federal Income Tax on Timber - Key to Questions https://forestryindex.net/links/federal-income-tax-on-timber---key-to-questions This publication examines the most common situations noncorporate taxpayers face when calculating Federal income tax on their timber holdings. It addresses aspects of each situation using a three column format. No publisher mhowell 2020-07-28T11:20:10Z Link